This morning, a report hit the wire that AOL was looking to sell its popular Engadget and TechCrunch tech content sites.
AOL CEO Tim Armstrong has denied the report, claiming it is "100 percent untrue."
Adds Armstrong: "We are planning to invest in those properties, not sell them." The CEO did note that he had held discussions with other companies for investment opportunities but it seems that AOL will invest in the blogs itself.
TechCrunch backed the story, as well, noting "a gaggle of Aol folks decided it might be smart to turn TC, Engadget and some other tech properties (including some yet to be acquired) into a separate company/entity, valued at $200 million. Eventually, as Armstrong alludes to in [the] Ad Age article, the plan was scrapped."
The site then criticized the editor of the original report, who happened to be a former TC writer: "We figure this story got skewed because PandoDaily is going through its own troubles, and looking for a target to project its drama onto; Sometimes not wanting to seem weak makes you seem weak."
Adds Armstrong: "We are planning to invest in those properties, not sell them." The CEO did note that he had held discussions with other companies for investment opportunities but it seems that AOL will invest in the blogs itself.
TechCrunch backed the story, as well, noting "a gaggle of Aol folks decided it might be smart to turn TC, Engadget and some other tech properties (including some yet to be acquired) into a separate company/entity, valued at $200 million. Eventually, as Armstrong alludes to in [the] Ad Age article, the plan was scrapped."
The site then criticized the editor of the original report, who happened to be a former TC writer: "We figure this story got skewed because PandoDaily is going through its own troubles, and looking for a target to project its drama onto; Sometimes not wanting to seem weak makes you seem weak."
